Summary
Autodesk, Inc. filed a Form 8-K on November 3, 2004, to report a material definitive agreement. Specifically, the company entered into a Third Amendment to its lease agreement for its corporate headquarters at 111 McInnis Parkway, San Rafael, California. This amendment secures approximately 116,000 square feet of office space for a term commencing January 1, 2005, and concluding on December 31, 2009, with two five-year extension options. This lease renewal represents a commitment to maintaining its current headquarters location for the medium to long term. Investors can view this as a sign of operational stability and continued presence in San Rafael. The financial implications include an escalating annual rent expense, starting at approximately $2.69 million in 2005 and rising to $2.97 million by 2009, inclusive of operating expenses and taxes.
Key Highlights
- 1Autodesk, Inc. executed a Third Amendment to its lease agreement for its corporate headquarters.
- 2The lease covers approximately 116,000 square feet of office space at 111 McInnis Parkway, San Rafael, California.
- 3The lease term is set to begin on January 1, 2005, and will expire on December 31, 2009.
- 4The Company has secured two options to extend the lease for additional five-year periods.
- 5Annual rent expense will range from approximately $2.69 million in 2005 to approximately $2.97 million in 2009.
- 6The rent figures include operating expenses and real estate taxes.
- 7The filing confirms the company's commitment to its current headquarters location.